SARS monthly tax tables 2023 – South Africa
sars monthly tax tables 2023,SARS monthly tax tables 2023 – South Africa
sars monthly tax tables 2023
Note: The rate of 27% is effective from 1 April 2022 in respect PSPs that have a year-end on or after 31 March 2023. For any PSP that has a year-end prior to 31 March 2023, the rate of 28% will apply until the end of that company’s year of assessment.
Rates of Tax for Individuals
2023 tax year (1 March 2022 – 28 February 2023)
Scroll down to see the tax table for individuals as well as the tax rebates and thresholds.
23 February 2022 – See the changes from the previous year:
| Taxable income (R) | Rates of tax (R) |
|---|---|
| 1 – 226 000 | 18% of taxable income |
| 226 001 – 353 100 | 40 680 + 26% of taxable income above 226 000 |
| 353 101 – 488 700 | 73 726 + 31% of taxable income above 353 100 |
| 488 701– 641 400 | 115 762 + 36% of taxable income above 488 700 |
| 641 401 – 817 600 | 170 734 + 39% of taxable income above 641 400 |
| 817 601 – 1 731 600 | 239 452 + 41% of taxable income above 817 600 |
| 1 731 601 and above | 614 192 + 45% of taxable income above 1 731 600 |
2022 tax year (1 March 2021 – 28 February 2022)
See the changes from the previous year:
| Taxable income (R) | Rates of tax (R) |
|---|---|
| 1 – 216 200 | 18% of taxable income |
| 216 201 – 337 800 | 38 916 + 26% of taxable income above 216 200 |
| 337 801 – 467 500 | 70 532 + 31% of taxable income above 337 800 |
| 467 501 – 613 600 | 110 739 + 36% of taxable income above 467 500 |
| 613 601 – 782 200 | 163 335 + 39% of taxable income above 613 600 |
| 782 201 – 1 656 600 | 229 089 + 41% of taxable income above 782 200 |
| 1 656 601 and above | 587 593 + 45% of taxable income above 1 656 600 |
2021 tax year (1 March 2020 – 28 February 2021)
See the changes from the previous year:
| Taxable income (R) | Rates of tax (R) |
|---|---|
| 1 – 205 900 | 18% of taxable income |
| 205 901 – 321 600 | 37 062 + 26% of taxable income above 205 900 |
| 321 601 – 445 100 | 67 144 + 31% of taxable income above 321 600 |
| 445 101 – 584 200 | 105 429 + 36% of taxable income above 445 100 |
| 584 201 – 744 800 | 155 505 + 39% of taxable income above 584 200 |
| 744 801 – 1 577 300 | 218 139 + 41% of taxable income above 744 800 |
| 1 577 301 and above | 559 464 + 45% of taxable income above 1 577 300 |
2020 tax year (1 March 2019 – 29 February 2020)
No changes from the previous year:
| Taxable income (R) | Rates of tax (R) |
|---|---|
| 1 – 195 850 | 18% of taxable income |
| 195 851 – 305 850 | 35 253 + 26% of taxable income above 195 850 |
| 305 851 – 423 300 | 63 853 + 31% of taxable income above 305 850 |
| 423 301 – 555 600 | 100 263 + 36% of taxable income above 423 300 |
| 555 601 – 708 310 | 147 891 + 39% of taxable income above 555 600 |
| 708 311 – 1 500 000 | 207 448 + 41% of taxable income above 708 310 |
| 1 500 001 and above | 532 041 + 45% of taxable income above 1 500 000 |
2019 tax year (1 March 2018 – 28 February 2019)
| Taxable income (R) | Rates of tax (R) |
|---|---|
| 1 – 195 850 | 18% of taxable income |
| 195 851 – 305 850 | 35 253 + 26% of taxable income above 195 850 |
| 305 851 – 423 300 | 63 853 + 31% of taxable income above 305 850 |
| 423 301 – 555 600 | 100 263 + 36% of taxable income above 423 300 |
| 555 601 – 708 310 | 147 891 + 39% of taxable income above 555 600 |
| 708 311 – 1 500 000 | 207 448 + 41% of taxable income above 708 310 |
| 1 500 001 and above | 532 041 + 45% of taxable income above 1 500 000 |
2018 tax year (1 March 2017 – 28 February 2018)
| Taxable income (R) | Rates of tax (R) |
|---|---|
| 1 – 189 880 | 18% of taxable income |
| 189 881 – 296 540 | 34 178 + 26% of taxable income above 189 880 |
| 296 541 – 410 460 | 61 910 + 31% of taxable income above 296 540 |
| 410 461 – 555 600 | 97 225 + 36% of taxable income above 410 460 |
| 555 601 – 708 310 | 149 475 + 39% of taxable income above 555 600 |
| 708 311 – 1 500 000 | 209 032 + 41% of taxable income above 708 310 |
| 1 500 001 and above | 533 625 + 45% of taxable income above 1 500 000 |
2017 tax year (1 March 2016 – 28 February 2017)
| Taxable income (R) | Rates of tax (R) |
|---|---|
| 1 – 188 000 | 18% of taxable income |
| 188 001 – 293 600 | 33 840 + 26% of taxable income above 188 000 |
| 293 601 – 406 400 | 61 296 + 31% of taxable income above 293 600 |
| 406 401 – 550 100 | 96 264 + 36% of taxable income above 406 400 |
| 550 101 – 701 300 | 147 996 + 39% of taxable income above 550 100 |
| 701 301 and above | 206 964 + 41% of taxable income above 701 300 |
2016 tax year (1 March 2015 – 29 February 2016)
| Taxable income (R) | Rates of tax (R) |
|---|---|
| 1 – 181 900 | 18% of each R1 |
| 181 901 – 284 100 | 32 742 + 26% of the amount above 181 900 |
| 284 101 – 393 200 | 59 314 + 31% of the amount above 284 100 |
| 393 201 – 550 100 | 93 135 + 36% of the amount above 393 200 |
| 550 101 – 701 300 | 149 619 + 39% of the amount above 550 100 |
| 701 301 and above | 208 587 + 41% of the amount above 701 300 |
2015 tax year (1 March 2014 – 28 February 2015)
| Taxable income (R) | Rates of tax (R) |
|---|---|
| 1 – 174 550 | 18% of each R1 |
| 174 551 – 272 700 | 31 419 + 25% of the amount above 174 550 |
| 272 701 – 377 450 | 55 957 +30% of the amount above 272 700 |
| 377 451 – 528 000 | 87 382 + 35% of the amount above 377 450 |
| 528 001 – 673 100 | 140 074 +38% of the amount above 528 000 |
| 673 101 and above | 195 212 + 40% of the amount above 673 100 |
2014 tax year (1 March 2013 – 28 February 2014)
| Taxable income (R) | Rates of tax (R) |
|---|---|
| 1 – 165 600 | 18% of each R1 |
| 165 601 – 258 750 | 29 808 + 25% of the amount above 165 600 |
| 258 751 – 358 110 | 53 096 + 30% of the amount above 258 750 |
| 358 111 – 500 940 | 82 904 + 35% of the amount above 358 110 |
| 500 941 – 638 600 | 132 894 +38% of the amount above 500 940 |
| 638 601 and above | 185 205 + 40% of the amount above 638 600 |
Tax Rebates
23 February 2022 – See the changes from the previous year:
| Tax Rebate | Tax Year | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
| Primary | R16 425 | R15 714 | R14 958 | R14 220 | R14 067 | R13 635 | R13 500 | R13 257 | R12 726 |
| Secondary (65 and older) | R9 000 | R8 613 | R8 199 | R7 794 | R7 713 | R7 479 | R7 407 | R7 407 | R7 110 |
| Tertiary (75 and older) | R2 997 | R2 871 | R2 736 | R2 601 | R2 574 | R2 493 | R2 466 | R2 466 | R2 367 |
Tax Thresholds
23 February 2022 – See the changes from the previous year:
| Age | Tax Year | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
| Under 65 | R91 250 | R87 300 | R83 100 | R79 000 | R78 150 | R75 750 | R75 000 | R73 650 | R70 700 |
| 65 an older | R141 250 | R135 150 | R128 650 | R122 300 | R121 000 | R117 300 | R116 150 | R114 800 | R110 200 |
| 75 and older | R157 900 | R151 100 | R143 850 | R136 750 | R135 300 | R131 150 | R129 850 | R128 500 | R123 350 |
What tax changes will there be in 2023?
SARS monthly tax tables in an image Tax deductions during the 2023 fiscal year
For married couples filing jointly, the standard deduction for the 2023 tax year will be $27,700, an increase of $1,800 from the deduction for the 2022 tax year. The standard deduction for single taxpayers has increased by $900 to $13,850.
What are the South African monthly tax brackets?
The tax brackets, which apply to the 2022–2023 tax year, are 18%, 26%, 31%, 36%, 39%, 41%, and 45%, as shown in the tax table. If you are in the 36% tax bracket, for example, you do not pay 36% on all of your income; you only pay 36% on income that is greater than R488 700.
How is PAYE tax calculated on a monthly basis in South Africa?
PAYE is equal to (total tax due minus all refunds) / 12.
Although it may look complicated, it is actually rather straightforward.
What is the 2023 tax exemption?
$17,000
2023 sees an increase in the gift tax exclusion to $17,000 from 2022’s $16,000. As a result, you won’t have to worry about paying the federal gift tax on gifts of up to $17,000 made to as many recipients as you choose in 2023. Additionally, if you’re married, your partner may also donate $17,000 to the same beneficiaries.
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